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Calculate assessable self-employed income

When you work for yourself, your income can often vary. But when you’re applying for a loan, banks like to know more precisely what your assessable income will be. Lenders will usually rely on historical figures to get some idea.

Our self-employed income calculator can give you an idea of what your assessable income could be according to how most lenders will measure it.

Firstly, our calculator asks you to enter:

  • The value of the property you are seeking a loan for

  • Your deposit

Next, enter your personal income details. These include:

  • Your taxable income

  • Your rental income

  • Any other income you may have (leave blank any that don’t apply)

Finally, the calculator asks for your business income for two different years. For each, enter:

  • Your business’s net profit before tax

  • Depreciation of any equipment or other business items

  • Any superannuation contributions you may have made

  • Any one-off expenses, like new equipment or costs associated with relocating, for example (again, leave blank any that don’t apply to you)

The calculator will provide a rough gauge of your personal, business, and overall assessable income. It will also give a rough idea of the loan-to-value (LVR) ratio and make suggestions of deposit amounts that may help you secure a loan. For a more accurate assessment of your income and what you can afford to borrow, consider consulting your accountant or a mortgage broker for more information.

Getting a home loan while self-employed

Being self-employed doesn’t rule you out from obtaining a home loan but it can be more difficult. Lenders generally have specific requirements for sole traders and people who own their own businesses. These can also extend to contractors and freelance workers. If you fall into any of these categories, the best advice is to get your documentation in order as lenders will want detailed information about the nature of your business or work arrangements. It also pays to shop around for lenders who are prepared to consider your individual circumstances.


Looking for a home loan?

Buying a home or looking to refinance? The table below features home loans
with some of the lowest interest rates on the market for owner occupiers.

Lender

Variable
More details
  • Available for purchase or refinance, min 10% deposit needed to qualify.
  • No application, ongoing monthly or annual fees.
  • Quick and easy online application process.
Disclosure

loans.com.au – Variable Home Loan P&I <90%

  • Available for purchase or refinance, min 10% deposit needed to qualify.
  • No application, ongoing monthly or annual fees.
  • Quick and easy online application process.
Disclosure
Variable
More details
Built and funded by CommBank
  • No application or ongoing fees. Annual rate discount
  • Unlimited redraws & additional repayments. LVR <80%
  • A low-rate variable home loan from a 100% online lender. Backed by the Commonwealth Bank.
Disclosure
Built and funded by CommBank

Unloan – Variable Rate Home Loan LVR < 80%

  • No application or ongoing fees. Annual rate discount
  • Unlimited redraws & additional repayments. LVR <80%
  • A low-rate variable home loan from a 100% online lender. Backed by the Commonwealth Bank.
Disclosure
Variable
More details
100% offset
  • Easy application. Fast approval. 100% offset.
  • Unlimited additional repayments free of charge.
  • Redraw available - Access additional payments.
Disclosure
100% offset

Ubank (part of NAB) – Flex variable home loan - 100% offset

  • Easy application. Fast approval. 100% offset.
  • Unlimited additional repayments free of charge.
  • Redraw available - Access additional payments.
Disclosure
Variable
More details
Disclosure

Macquarie Bank – Offset Home Loan (Owner Occupier, Principal and Interest, max LVR 60%)

  • Check your eligibility in as little as one minute
Disclosure
Variable
More details

IMB Bank – Budget Home Loan (Principal and Interest) (LVR 90%-95%)

    Variable
    More details
    Disclosure

    Ubank (part of NAB) – Neat home loan - max. 60% LVR (Owner occupied, Principal and interest)

      Disclosure
      VariableN/A
      More details

      Regional Australia Bank – Home Loan without Offset - OO,PI LVR 90% or less

        Variable
        More details

        ME – CompleteME Home Loan - LVR 60% to 80% - $150,000 to $400,000

          Variable
          More details

          Heritage Bank – Home Advantage Variable $150,000 to $249,999 LVR >80% to 90%

            Variable
            More details
            Disclosure

            Commonwealth Bank – Wealth Package Variable Home Loan (Principal and Interest) (LVR 80% - 90%)

              Disclosure
              VariableN/A
              More details

              P&N Bank – Basic Variable Home Loan >90% and =<95%

                Variable
                More details

                Great Southern Bank – Offset Variable - Owner Occupier Principal & Interest (LVR is above 80% and less than or equal to 90%)

                  Variable
                  More details
                  Disclosure

                  Ubank (part of NAB) – Neat home loan - max. 80% LVR (Owner occupied, Principal and interest)

                    Disclosure
                    Variable
                    More details
                    Disclosure

                    Macquarie Bank – Offset Home Loan (Owner Occupier, Principal and Interest, max LVR 80%)

                      Disclosure
                      Variable
                      More details
                      • Available for purchase or refinance, min 10% deposit needed to qualify.
                      • No application, ongoing monthly or annual fees.
                      • Quick and easy online application process.
                      Disclosure

                      loans.com.au – Variable Home Loan with Offset P&I <90%

                      • Available for purchase or refinance, min 10% deposit needed to qualify.
                      • No application, ongoing monthly or annual fees.
                      • Quick and easy online application process.
                      Disclosure
                      Variable
                      More details

                      Bank Australia Limited Trading as Qudos Bank – Qantas Points Home Loan (Owner Occupied) (PI) (LVR <80%) 10-20%

                        Variable
                        More details

                        AMP – Essential Home Loan (Owner Occupied, Principal and Interest, $250,000+ <= LVR 90%)

                          VariableN/AN/A
                          More details
                          Disclosure

                          Westpac – Flexi First Option Home Loan (Promo) - Principal & Interest (LVR 70-80%)

                            Disclosure
                            Variable
                            More details

                            Bank of Queensland – Clear Path Variable Rate Home Loan Discount Rate (max 90% LVR)

                              Variable
                              More details

                              Suncorp Bank – Home Package Plus Personal Variable First Home Buyer Special (Principal and Interest) ($150k+, LVR 80%-95%)

                                Important Information and Comparison Rate Warning

                                Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. All products will list the LVR with the product and rate which are clearly published on the product provider’s website. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of July 6, 2025. View disclaimer.

                                Important Information and Comparison Rate Warning